However, the cost structure of the Indian coal sector is still favourable: it is estimated that the average cost of production is about `1,000 per tonne, and that cost of production is a concern for only about 10% of the output.

The state-owned company said that for coal transported over a distance up to 100 km, Coal India receives only 56% of the costs paid by consumers for procuring dry fuel.

Taxes, duties and levies are about 34%, followed by freight at 10%. For transporting coal up to 500 km, Coal India receives 41% of the total payments made by consumers while taxes, duties and levies constitute 25%, followed by railways at 34%.

Beyond 1,000 km, its realisation is about 32%, taxes duties and levies take away 20%, while the rest — 48% — goes to the Indian Railways. Although Coal India feels it produces coal at competitive rates, it is critical of its own operating performance.

"There's a significant gap in productivity norms of similar class of equipment in mines in India and those around the world. For instance, similar class of shovels in international mines is operated 40-50% more hours annually than at Coal India."

Equipment utilisation rates at mines operated contractually have been seen to be better than those operated departmentally by the monopoly.

"For instance, in Coal India subsidiary, Eastern Coalfields, in 2016-17, the utilisation rate of hired excavators was 93%, against 73% utilisation rate for departmental excavators. This requires much greater focus on operational excellence and asset management practices in the Indian coal mining sector," its Vision 2030 statement said.

Added to this is Coal India's option for adopting technology which is limited. The vision document said the sector is beset with relatively small scale mining with limited mechanisation and scale of equipment.

Buyers of Samsung’s Galaxy S series of premium smartphones will have to shell out close to Rs 1.18 lakh to get their hands on the top-end model of the device that starts selling in India from March 8.

Samsung had launched three models - Galaxy S10+, Galaxy S10 and Galaxy S10e - in San Francisco on February 20. These flagship devices will compete head-on with Apple’s iPhone that is seeing sales slowdown in many markets, including China.

GMR Infrastructure on Friday said its subsidiary GMR Airports and its Greek partner Terna Group have signed a concession agreement for construction of the new international airport in Greece's island Crete.

The consortium intends to invest over EUR 500 million (approx Rs 4,034.28 crore) for development of the new airport, GMR Infrastructure said in a regulatory filing.

Oil marketing companies hiked the price of petrol by 14-15 paise and that of diesel by 16-18 paise a litre the major metros on Friday. In Delhi, petrol prices were hiked by 14 paise to Rs 71.29 a litre as against Rs 71.15 yesterday. One litre of diesel can be purchased for Rs 66.48 in the national capital. In case of Mumbai, one litre of petrol can be purchased for Rs 76.93 up from Rs 76.79 per litre, implying a 14 paise hike.

The diesel cost has been raised to 69.63 in the financial capital. In Kolkata, one litre of petrol is retailing at Rs 73.39, while diesel can be bought for Rs 68.27. In Chennai petrol prices have been hiked to Rs 74.02, while consumers will now have to pay Rs 70.25 in Chennai. The revised rates are applicable from 6 am on Friday morning.

Shares of Bata India hit a new high of Rs 1,301 apiece, up 1 per cent on the BSE, surging 50 per cent in past four months after it reported a strong earnings growth in December 2018 (Q3FY19) quarter and foreign portfolio investors buying. In comparison, the S&P BSE Sensex was up 6 per cent during the same period.

Thus far in the calendar year 2019 (CY19), Bata India has outperformed the market by gaining 15 per cent, against unchanged benchmark index. In CY2018, it soared 52 per cent, as compared to a 6 per cent rise in the Sensex.

Please only use this form to enter comments on the above company.
All comments are reviewed before they are displayed on the web site. Not all comments may be displayed. Check back with us to see if your comments have been displayed. If you want us to email the comments posted by users, please
Subscribe by email

Name*

Comments*

Security Code*

Be the first person to write a business review for Coal India trails global peers in performance: Vision document